Transforming the digital utility
How digital is helping utilities operate at the heart of the new energy system
Many utility executives agree that the current business model for utilities needs to change
Utilities’ growth prospects are being undermined by significant shifts in energy demand, together with pressures on growth in capital asset spending. These shifts are propelling the need for a new business model, enabled by digital capabilities, that can position utilities to effectively respond to changes in energy management and consumption.
While most utilities are increasingly investing in digital assets, they are losing significant growth potential by not transforming their core business model. As a result, utilities risk being overtaken by new competitors from outside the industry. These new entrants are deploying digital technologies to not only transform the current energy value chain but to create a new energy system for the future. Find out how utilities organizations can make a truly digital shift in their business model to carve a new path to growth.
How To Transform
We have identified five activities of digital disruptors that utilities can emulate to help them redefine traditional value chains.
Create shared societal value
Create value that accrues to many stakeholders
Optimize capacity
Optimize network assets (even those not owned) to drive stakeholder value
Transform the customer process
Help customers achieve a breakthrough in how they accomplish key tasks
Enable optimal pricing
Employ incentives that align dynamics of network and customer interests
Lower cost-to-serve
Adopt dramatically lower cost interaction models
ROTATE TO THE NEW
Accenture’s Digital Performance Index analysis, based on our study of 343 leading global companies across eight industries, reveals that most companies—including utilities—are capable of using digital technologies to create business efficiencies, but few are currently using them to substantially improve their performance for the long run. Explore how a comprehensive approach to digital can enable companies to be Digital High Performers.
